1832 Asset Management L.P. Purchases 253,800 Shares of Kinross Gold Co. (NYSE:KGC)

1832 Asset Management L.P. lifted its holdings in Kinross Gold Co. (NYSE:KGC) (TSE:K) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,879,134 shares of the mining company’s stock after acquiring an additional 253,800 shares during the period. 1832 Asset Management L.P. owned approximately 0.64% of Kinross Gold worth $48,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Kinross Gold by 1.1% during the third quarter. Vanguard Group Inc. now owns 44,404,283 shares of the mining company’s stock worth $202,484,000 after acquiring an additional 463,035 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in shares of Kinross Gold by 23.5% in the 4th quarter. DekaBank Deutsche Girozentrale now owns 947,037 shares of the mining company’s stock worth $5,707,000 after acquiring an additional 179,933 shares during the last quarter. Wellington Management Group LLP lifted its position in Kinross Gold by 975.2% in the 3rd quarter. Wellington Management Group LLP now owns 555,458 shares of the mining company’s stock valued at $2,543,000 after acquiring an additional 503,799 shares in the last quarter. Campbell & CO Investment Adviser LLC boosted its stake in Kinross Gold by 248.4% during the 4th quarter. Campbell & CO Investment Adviser LLC now owns 334,102 shares of the mining company’s stock valued at $2,021,000 after purchasing an additional 238,219 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Kinross Gold by 4.6% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,846,537 shares of the mining company’s stock valued at $17,285,000 after purchasing an additional 124,055 shares during the last quarter. 63.69% of the stock is owned by institutional investors and hedge funds.

Kinross Gold Stock Performance

NYSE:KGC traded up $0.07 during trading hours on Friday, reaching $8.61. The stock had a trading volume of 11,375,047 shares, compared to its average volume of 16,183,093. Kinross Gold Co. has a 12-month low of $4.32 and a 12-month high of $9.41. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.45 and a current ratio of 1.15. The stock has a 50 day simple moving average of $8.19 and a 200 day simple moving average of $6.72. The stock has a market cap of $10.58 billion, a P/E ratio of 23.92, a price-to-earnings-growth ratio of 0.51 and a beta of 1.19.

Kinross Gold (NYSE:KGC) (TSE:K) last posted its quarterly earnings data on Tuesday, May 7th. The mining company reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.04. Kinross Gold had a net margin of 9.86% and a return on equity of 9.34%. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the company posted $0.07 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts forecast that Kinross Gold Co. will post 0.57 EPS for the current fiscal year.

Kinross Gold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 13th. Shareholders of record on Thursday, May 30th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, May 30th. This represents a $0.12 annualized dividend and a yield of 1.39%. Kinross Gold’s payout ratio is 30.56%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Cormark raised shares of Kinross Gold from a “hold” rating to a “moderate buy” rating in a report on Thursday, May 9th. BMO Capital Markets upped their price objective on shares of Kinross Gold from $10.00 to $11.50 and gave the stock an “outperform” rating in a research report on Tuesday, May 21st. National Bank Financial reissued an “outperform overweight” rating on shares of Kinross Gold in a research report on Monday, April 8th. Jefferies Financial Group upped their target price on Kinross Gold from $7.00 to $9.00 and gave the company a “hold” rating in a report on Friday, July 12th. Finally, StockNews.com raised Kinross Gold from a “hold” rating to a “buy” rating in a research report on Tuesday, April 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $8.57.

Kinross Gold Company Profile

Kinross Gold Corporation, together with its subsidiaries, engages in the acquisition, exploration, and development of gold properties principally in the United States, Brazil, Chile, Canada, and Mauritania. The company operates the Fort Knox mine and the Manh Choh project in Alaska, as well as the Round Mountain and the Bald Mountain mines in Nevada, the United States; the Paracatu mine in Brazil; the La Coipa and the Lobo-Marte project in Chile; the Tasiast mine in Mauritania; and the Great Bear project in Canada.